Titled "The Renaissance Report," arena supporters released an economic impact study Thursday afternoon, saying a new downtown arena will provide an economic renaissance to Sacramento.

The coalition of arena supporters, known as The4000, said it shows the arena will not only create or preserve 4,000 jobs in the area, but will provide as much as $11.5 billion of economic activity in the 35-year life of the agreement to build it.

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"On an annual basis, you are looking at $230 million of spending in the Sacramento economy," said Cathy Dominico, the author of the report.

The report said the arena would create 11,700 temporary construction jobs, and create or preserve 4,000 permanent jobs in and around the arena.

The study also found the arena project would generate $9.4 million in sales and hotel taxes.

"Some of the other reports have been more hypothetical in nature based on case studies on other arenas throughout the country ... this one is based on hard facts for Sacramento," Dominico said.

The dean of business administration at Sacramento State University said economic studies are only as good as the time and effort used to create them.

"If the study is well done, it's better than not doing a study like this at all and simply speculating with nothing in front of you," said Dr. Sanjay Varshney, who suspects arena opponents will look for areas to refute the study.

Joshua Wood, executive director of The4000, said the report shows taxpayers will get a good return on their investment.

"This document is legitimate," Wood said. "These numbers are based off of real numbers (and) real assumptions off of the most current information."